Remittance inflows for Jamaica rose 3.7 percent or US$6.9 million to US$190 million in July this year, over July 2014. For the year to date period total remittance inflows climbed 3.8 percent or US$47.5 million to US$1.28 billion.
After accounting for outflows, net remittances were US$168 million for July, an increase of US$6.9 million or 4.3 percent relative to the corresponding period of 2014. The growth in net remittance inflows reflect an increase in gross remittances while remittance outflows remained unchanged.
Net remittances for 2015 to-date are US$1.154 billion, an increase of US$45 million or 4.1 percent over the corresponding period of 2014. The out-turn for the review period reflected an increase in gross inflows, which was partially offset by a growth in outflows, Bank of Jamaica reported.
The flows for 2015 should exceed the US$2.157 billion the country received in 2014, if the trend continues.
NCB hikes dividend as Q4 profit rises
NCB reports improved Q4 profit but yearly amount is flat
National Commercial Bank hiked their dividend payments for 2015 by 11 in announcing the payment of a final dividend of 85 cents per share, to be paid December 11 with the record date of November 27. NCB paid three interim dividends of 45 cents each, during 2015, the latest brings the total to $2.20 and is up from $1.98 in 2014. The final payment for 2014 was 96 cents with dividend payments amounting to 35 cents per share in August and May and 32 cents per share on February.
The dividends for 2015, represent a yield of 12 percent on the price of the stock at the start of the year of $18.50.
NCB reported profit of $12.3 billion for the year ending September slightly lower than the banking group’s revised 2014 profit of $12.33 billion which is revised upward from $11.6 billion.
For the final quarter profit grew 12 percent to end at $3.75 billion for earnings per share of $1.52 from $3.36 billion in 2014. For the full year earnings per share amounts to $5. Pretax profit for the quarter is up 17 percent to $4.8 billion.
The result for 2014 was revised upward from for earnings per share of $4.73 to $5.01. Earnings should move to the region of $6 per share in 2016.
The 2014 results have in $650 million relating to gains on acquisition of a subsidiary and sale of associated company which makes the 2015 performance much better than it appears. Credit losses fell from $2.3 billion in 2014 to $1.79 billion in 2015 and for the quarter $387 million versus $987 million in 2014.
NCB made decent progress in growing income and keeping cost under control. Loans grew by 5 percent year over year to reach $165 billion, growing this asset will allow for continued growth profitability. The group also enjoyed growth in investment securities and pledged assets which moved from $265 billion to $$276 billion. Customers’ deposits and repurchase agreements that helps to fund asset growth, moved from $337 billion to $328 billion.
NCB shares are listed on the Jamaica Stock Exchange and last traded at $34.50.
Juniors above 1,600 points – highest close
Caribbean Producers closed at a new high of $3.93 in response to sharply increase Q1 results.
stocks closing at new 52 weeks’ high.
Only 2 securities ended with no bids to buy and 9 had no stocks being offered for sale, an indication of chronic supply shortage of junior market stocks. A total of 7 stocks closed with bids higher than the last traded prices and none closed with lower offers.
In trading, Access closed with a gain of $1.95 at $13.50, with 4,000 units changing hands, Blue Power traded 4,000 shares in closing at $13, Caribbean Cream ended with 48,753 shares changing hands at $4.60. Caribbean Flavours traded 506,228 units to end with a loss of 1 cents at $4.90, Caribbean Producers gained 52 cents and traded 543,433 units at $3.93 for a new 52 weeks’ high as investors continued to respond to good first quarter results. Consolidated Bakeries ended at $1.90, with 312,000 units changing hands. Derrimon Trading ended with 45,000 shares changing hands and closed at $3.20, Dolphin Cove had 74,000 shares changing hands at $12.85, for a decline of 65 cents, General Accident Insurance traded only 7,500 units at $1.91 for a loss of 5 cents.
Honey bun traded with a gain of 2 cents to end at 52 weeks’ high of $5.30 with 82,748 units changing hands, KLE Group ended with 5,000 units trading at 65 cents, Lasco Distributors closed with 61,595 shares changing hands, with a rise of 5 cents to $4.45 after trading as high as $4.50. Lasco Financial closed with an increase of 6 cents at a new 52 weeks’ closing high of $3.31 with a total of 365,448 shares changing hands after trading as high as $3.50. Lasco Manufacturing closed at $4.03 with 661,204 shares changing hands and Derrimon Trading preference share ended with 8,010 shares changing hands at $2.20.
Supply shortage feeding JSE rally
Bulls continue their relentless run on Jamaican stocks
The market closed with activity in 42 securities, leading to 13,242,518 units valued at $152,588,837 changing hands, in all market segments. A total of 25 securities rose and 6 declined with 12 stocks ending at 52 weeks’ closing high. The JSE Market Index rose 2,019.69 points to 137,113.50, the all Jamaica Composite Index gained 2,257.11 points to end at 152,188.35 and the JSE combined index surged 2,200.34 points to end at 143,717.69.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 8 stocks with bids higher than their last selling prices and 3 with lower offers.
In trading, Cable and Wireless enjoyed heavy trading and gained 11 cents, with 7,617,380 shares changing hands to close at $1.36 after trading in the early morning session at a high of $1.40.
On offer were 972,640 shares at $1.44 with bid in at $1.36 to buy 151,270 units. Caribbean Cement fell 10 cents to end at $17.78, with 101,120 shares changing hands. Carreras jumped $5 to end at a 52 weeks’ high of $60 with 773,164 units trading, Gleaner traded 215,100 units at $1.90 after shedding 12 cents. Grace Kennedy closed at a new 52 weeks’ high of $73 after rising $2.99 with only 1,084 shares changing hands, Jamaica Broilers traded 20,524 shares to close at $9.20. Jamaica Producers traded 4,075 shares and gained 20 cents to end at $23.80, Jamaica Stock Exchange rose $1.99 in trading 1,000 shares for new 52 weeks’ closing high of $14, JMMB Group traded 32,291 shares to close 20 cents higher at $11, Kingston Wharves traded 21,371 units to close with a gain of 40 cents at $11.50. National Commercial Bank close with 1,545,881 shares changing hands to end with a rise of 50 cents at $33.50, Pan Jamaican climbed $5.99 in trading 206,104 shares to end at a 52 weeks’ closing high $92, Pulse Investments traded 150,000 shares but recovered 20 cents and ended at $1.17. The company released the first quarter results after trading closed, showing earnings of 29 cents versus 20 cents in 2014. 
Sagicor Group traded at a new closing high of $15.35 with 28,078 shares changing hands at 34 cents higher. Sagicor Real Estate Fund traded 14,500units, the price closed at $10.02 after falling 3 cents, Scotia Group ended with 6,184 shares changing hands and closed with a gain of 20 cents at $27. Scotia Investments leapt $2.50 to close at $30 as 226,416 units traded, Supreme Ventures ended with 10,216 shares changing hands at $4.60 and Proven Investments ordinary share rose by 1.97 US cents and ended at 22.97 US cents with 436,000 units changing hands and Jamaica Money Market Brokers 7.50% preference share ended with 728,500 units trading at $2.
Juniors close 3 points shy of 1,600 points
The junior market rose 32.86 to just 3 points away from the 1,600 point mark at 1,597.17 points on Tuesday as 16 securities were active with 10 stocks advancing and one declined. A total of 1,088,460 units, valued at $4,588,567 changed hands. The market ended with 7 stocks closing at new 52 weeks’ high.
Only 2 securities ended with no bids to buy and 10 had no stocks being offered for sale, an indication of chronic supply shortage of junior market stocks. A total of 7 stocks closed with bids higher than the last traded prices and 3 closed with lower offers.
In trading, Blue Power gained 80 cents in closing at $13.80, with 4,200 units trading. Caribbean Cream ended with 20,000 shares changing hands, at a new 52 weeks’ high of $4.60, to gain 10 cents, Caribbean Flavours traded 87,075 units to end at a new 52 weeks’ high of $4.85, after rising 5 cents, Caribbean Producers traded 79,902 units at $3.05. Consolidated Bakeries rose 10 cents to end at $1.90, with 40,742 units changing hands. Derrimon Trading gained 20 cents, to end with 5,000 shares changing hands at a 52 weeks’ high of $3.20, Dolphin Cove had 26,300 shares changing hands at $13.50, for a rise of 50 cents at a 52 weeks’ high. General Accident Insurance traded only 200 units at $2. The stock ended with an offer at $1.97, to sell 20,000 shares, Honey Bun closed with a mere 454 shares changing hands, to end 8 cents higher at a 52 weeks’ high $5.28, Jamaican Teas rose 5 cents with 33,810 shares trading, to close at $3.90.
KLE Group ended with 1,515 units trading at 45 cents, Lasco Distributors closed with 367,050 shares changing hands with a loss of 43 cents to $4.07, Lasco Financial closed with an increase of 20 cents at a new 52 weeks’ closing high of $3.20 with a total of 219,943 shares changing hands after trading as high as $3.40, Lasco Manufacturing rose 6 cents to end at $3.96 with 196,769 shares changing hands at a new 52 weeks’ high and Derrimon Trading preference share ended with 400 shares changing hands at $2.20.
Juniors at a new high of 1,564 points
Caribbean Flavours traded at a 52 weeks’ high of $4.80, being 1 of 4 JM stocks to do so.
Three (3) securities ended with no bids to buy and 10 had no stocks being offered for sale. A total of 6 stocks closed with bids higher than the last traded prices and none closed with a lower offer.
In trading, Caribbean Cream ended with 17,500 shares changing hands at a new 52 weeks’ high of $4.50 to gain 15 cents, Caribbean Flavours traded 144,722 units to end at a new 52 weeks’ high of $4.80, after rising 20 cents, Caribbean Producers traded 102,848 units at $3.05.
Consolidated Bakeries rose 15 cents to end at $1.80, with 45,000 units changing hands, Dolphin Cove had 150,150 shares changing hands at $13 after trading as high as $13.50. Jamaican Teas rose 5 cents with 74,015 shares trading, to close at $3.85, KLE Group ended with 6,250 units trading at 45 cents, Lasco Distributors closed with 88,950 shares changing hands with a gain of 50 cents to $4.50, for a new all-time closing high. Lasco Financial closed with an increase of 5 cents at a new 52 weeks’ closing high of $3 with a total of 540,380 shares changing hands and Lasco Manufacturing rose 30 cents to end at $3.90 with 625,527 shares changing hands.
Jamaica’s Unemployed down slightly in June
Jamaica’s unemployment rate for June 2015 saw an improvement over the similar period of 2014. According to the Statistical Institute of Jamaica (STATIN), 13.1 percent of the labour force were out of work when their Labour Force Survey was carried out, a reduction from the 13.8 percent level in the 2014 period.
Over the period, “the unemployment rate for males declined from 9.9 percent to 9.3 percent and for females from a very high 18.4 percent to 17.7 percent”, STATIN stated.
The number of unemployed persons decreased by 6,300 or 3.5 percent, moving from 179,300 persons in June 2014 to 173,000 in June this year. A total of 1,147,500 persons were employed at the time of the survey, 23,200 more than the 1,124,300 in June 2014. The Labour Force increased by 16,800 or 1.3 percent over the 1,303,700 recorded in June 2014, to 1,320,500 in 2015.In June 2015, the number of persons who were classified as being Outside the Labour Force fell by 12,700 or1.6 percent to 765,400 from 778,100 in June 2014.
The Occupation group, Clerks, saw 9,400 more persons or 9.1 percent being employment, raising the numbers employed from 103,000 in June 2014 to 112,400 at the middle of this year. Increases in employment were also observed in Craft and Related Trades Workers with an increase of 3.4 percent from 136,200 persons in June 2014 to 140,900. Employment in the group, Real Estate, Renting & Business Activities increased by 14,400 persons or 22.4 percent while the group Hotels and Restaurants Services increased by 8.8 percent or 7,300 persons.
Juniors close above 1,500 – first time
The junior market index closed above 1,500 points on Friday & could be heading for over 2,000 mark but not just yet.
The junior market ended trading in 14 securities as 5 stocks advanced and 4 declined. A total of 3,259,403 units, valued at $12,418,302 changed hands. The market ended with 3 stocks closing at new 52 weeks’ high and 1 at 52 weeks’ intraday high. Three (3) securities ended with no bids to buy and 9 had no stocks being offered for sale. A total of 5 stocks closed with bids higher than the last traded prices and 1 closed with a lower offer.
In trading, AMG Packaging closed at $5 with 1,710 units changing hands, Blue Power closed at $13 with 11,908 units trading, Caribbean Cream ended with 102,200 shares changing hands at a new 52 weeks’ high of $4.35 to gain 40 cents, Caribbean Flavours traded 1,218,881 units to end at a new 52 weeks’ high of $4.60. Consolidated Bakeries fell 30 cents to end at $1.65, with 233,930 units changing hands, Derrimon Trading ended with 10,000 shares trading at $3, Dolphin Cove had 7,800 shares changing hands at $13 after rising 50 cents,
General Accident gained 10 cents with 4,000 shares trading, in closing at $2, Honey Bun ended with 84,605 units changing hands at $5.20. Jamaican Teas fell 10 cents with 109,490 shares trading, to close at $3.80, KLE Group ended with 15,000 units trading at 45 cents, Lasco Distributors closed with 171,484 shares changing hands with a gain of 45 cents to $4, for a new all-time closing high. Lasco Financial closed with an increase of 15 cents at a new 52 weeks’ high $2.95 with a total of 731,001 shares changing hands and Lasco Manufacturing fell 10 cents to end at $3.80 with 557,394 shares changing hands.
Bulls continue to push higher on Friday
Scotia Group traded at a 52 weeks’ high on Friday.
The JSE Market Index bounced 1,756.11 points to 134,188.79 the all Jamaica Composite Index jumped 1,962.55 points to end at 148,919.83 and JSE combined index surged 1,839.73 points to end at 140,201.06.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 12 stocks with bids higher than their last selling prices and 4 with offers that are lower.
In trading, Berger Paints dropped 30 cents to end at $3.50 after 40,000 shares were traded, Cable and Wireless recovered some more lost grounds to gain 15 cents, with 601,894 shares changing hands. On the offer were 174,235 shares at $1.05 with bid in at $1.02 to buy 50,000 units.
Caribbean Cement lost 20 cents to end at $17.90, with 10,979 shares changing hands. Carreras had 45,200 units trading, to close at $55.50, the stock gained $1.50 to end at a 52 weeks’ high, Desnoes & Geddes traded 35,403 units at $30, Gleaner Company traded 20,000 shares to end at $1.90, with a loss of 2 cents, Grace Kennedy closed at $68.11 with a fall of 39 cents with 193,092 shares changing hands. Jamaica Broilers traded 209,180 shares to close at $9. Jamaica Producers traded 1,205,762 shares and lost 20 cents to end at $23.50, JMMB Group traded 303,428 shares to close at $10.80 with the price falling 20 cents, Kingston Wharves gained 40 cents and traded 31,327 units to close at $11.50 for a 52 weeks’ closing high, Mayberry Investments rose 3 cents to end at $4.21 by trading 502,040 shares. National Commercial Bank with 79,023 shares changing hands to end at $33. 
Pulse Investments traded 112,631 shares but lost 5 cents and ended at $1.30. Sagicor Group dropped 5 cents with 137,091 shares trading, to close at $14.45, Sagicor Real Estate Fund traded 1,289 units, the price closed at $9.95 after rising 45 cents, Scotia Group ended with 2,574,294 shares changing hands and closed at a 52 weeks’ high after rising $2.50 at $29.50, Seprod fell 1 cent to close at $15.84 as 20,000 units traded and Proven Investments ordinary share ended at 22.98 US cents with 27,891 units changing hands.
Bulls push 26 stocks up as 9 fell
The bullishness of Jamaica Stock Exchange continued on Thursday with all three main indices representing the main market being up, at the end of trading. A total of 44 securities were active, leading to 9,435,523 units valued at $123,466,769 changing hands, in all market segments. at the close 26 securities rose and 9 declined with 9 stocks ending at 52 weeks’ closing high and 1 at an intraday 52 weeks’ high.
The JSE Market Index shed 301.69 points to 132,432.68 the all Jamaica Composite Index gained 337.15 points to end at 146,957.28 and JSE combined index dipped 859.23 points to end at 138,361.33.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator had a reading of 8 stocks with bids higher than their last selling prices and 2 with offers that are lower.
In trading, Barita Investments closed at a new 52 weeks’ high of $3.66 while trading 61,000 shares to end at with a gain of 16 cents, after trading at $4, Berger Paints dropped jumped 80 cents to end at a 52 weeks’ high of $3.80 after 207,422 shares were traded. Cable and Wireless recover some lost grounds and gained 15 cents, with 2,120,843 shares changing hands. On the offer were 39,129 shares at 95 cents with bid in at 86 cents to buy 79,702 units. Caribbean Cement rose 10 cents to end at $18.10, with 183,769 shares changing hands. 
Carreras had a big trade with 1,006,300 units to close at $54 but with 1 million units being a cross, the stock gained 99 cents to end at a 52 weeks’ high, Gleaner Company traded 37,300 shares to end at $1.92, Grace Kennedy closed at $68.50 while gaining 30 cents with 16,379 shares changing hands. Jamaica Broilers traded 207,000 shares to close at $9 for a gain of 50 cents, Jamaica Producers traded 1,237 shares and gained 20 cents to end at a 52 weeks’ high of $23.70, Jamaica Stock Exchange closed with 46,000 shares trading with a gain of 21 cents at $10.86. JMMB Group traded 164,806 shares to close at $11 with the price gaining $1 for new 52 weeks’ closing high, Kingston Wharves traded 44,395 units to close at $11.10 for a 52 weeks’ closing high, after rising by 10 cents,Mayberry Investment rose 10 cents to end at $4.20 by trading 54,500 shares. National Commercial Bank with 47,367 shares changing hands declined 50 cents to end at $32.50. 
Pan Jamaican jumped $3.49 in trading 19,650 shares to end at $85, Pulse Investments traded 60,000 shares to gain 15 cents and ended at $1.35 for a 52 weeks’ high. Sagicor Group dropped 20 cents with 1,225,725 shares trading, to close at $14.50, Sagicor Real Estate Fund traded 11,929 units, the price closed at $9.50 after falling $1, Scotia Group ended with 110,716 shares changing hands and closed at $26.17 after declining $1.03. Scotia Investments fell 70 cents to close at $26.80 as 811,400 units traded, Supreme Ventures ended at a 52 weeks’ closing high of $4.65, after rising 15 cents with 222,596 shares changing hands and Proven Investments ordinary share ended at 22.98 US cents with 73,500 units changing hands.